The company will invest nearly $1 billion in different phases to create a wafer-to-components semiconductor ecosystem in Gujarat.
Nextgen Semiconductor plans to raise funds for $113.2 million and $170 million in the next 12 months through equity and structured instruments, to support its $997 million vision project to build a fully integrated Silicon (Si) and Silicon Carbide (SiC) power semiconductor facility in Dholera, Gujarat.
The project will create a full ecosystem from wafer manufacturing to power electronics components. This will make them self-reliant in semiconductor technologies used in electric vehicles, renewable energy, data centres, and industrial electronics.
Construction at Dholera is scheduled to start by April 2026, with the facility expected to be operational within 15 months. The land has already been allocated, and the project is under review by the India Semiconductor Mission.
This phased investment and partnerships aim to make India a producer and supplier of Si and SiC devices, rather than just a consumer. The approach combines international technology know-how with local execution to build domestic manufacturing and supply chain capabilities.
Nextgen is backed by Indian and international investors, including IVP from Malaysia, Transworld, Myotic, and individual investors Malvika Agarwal, Harsh Agarwal, and Ayush Goel.
The company has also signed an agreement with Hitachi Energy and its partners to bring global expertise and market access to India.
